YNAP news and archive

Mytheresa closes the deal to acquire YNAP from Richemont

Mytheresa has acquired 100 percent of the share capital of Yoox Net-A-Porter Group (YNAP). At transaction closing, Richemont will sell YNAP to Mytheresa with a cash position of 555 million euros and no financial debt. Richemont will also make available a six-year revolving credit facility of 100 million euros to finance YNAP’s general corporate...

Business

Is Mytheresa set to acquire YNAP?

After what has been a long and, seemingly, tedious sales process, Swiss luxury giant Richemont may have finally found a buyer for its loss-making e-commerce platform Yoox Net-a-Porter (YNAP). It has been reported that German luxury e-tailer Mytheresa is close to snapping up what had been its online rival after formerly interested parties, Bain...

Business

Yoox Net-a-Porter to reportedly shutter China operations

Luxury fashion e-tailer Yoox Net-a-Porter (YNAP) is believed to be in the process of closing up shop in China as it looks to put more emphasis on markets it deems more profitable. The decision was confirmed by a spokesperson for the retailer’s parent company Richemont, who told the Financial Times that the move came as part of a wider global...

Business

YNAP and The King’s Foundation launch third edition of emerging talent initiative

Yoox Net-a-Porter (YNAP) has once again partnered with The King’s Foundation – formerly the Prince’s Foundation – for the duo’s emerging talent initiative, The Modern Artisan. Now in its third edition, the project has once again selected six trainees to participate in a nine-month paid training programme that will come to a head in the form of a...

BusinessFeatured

Farfetch could offload Browns as it seeks to raise cash

When Farfetch acquired the London boutique business of Browns in 2015, it marked the onset of a new era for retail, illustrating how digital and physical stores could seamlessly integrate. This move, where a digital platform acquired a high-end fashion business, was a novel proposition, lending Farfetch both gravitas and the potential to be an...

Business

Farfetch faces turbulence, postpones quarterly report as privatisation rumours emerge

Farfetch, the e-commerce platform founded by José Neves, has decided to postpone its quarterly report and related conference call with analysts. This move comes amid a challenging period for the company, marked by a significant decline in market capitalization from 26 billion dollars in 2021 to 740 million dollars. As has been well publicized,...

BusinessFeatured

Farfetch mulls going private, Richemont to review YNAP deal

Luxury e-commerce giant Farfetch is reportedly mulling a potential offer that would delist the company and take it private, as pressure on stock remains persistent. Such a move is speculated to happen very soon, according to The Telegraph which initially reported the news. While Farfetch had declined to comment on the report, the company later...

BusinessFeatured

What does the future have in store for Farfetch?

Farfetch’s future, following the finalisation of its agreement with Richemont in regards to the acquisition of Yoox Net-a-porter (YNAP), has concerned the market. Will José Neves, founder of Farfetch, be able to bounce back? The Richemont group can breathe easy. The green light given to the deal at the end of October by the European Commission's...

Business

Farfetch reportedly appoints new YNAP CEO

Luxury group Farfetch is understood to have appointed a new chief executive officer for its Yoox Net-a-Porter Group (YNAP), with the individual in question believed to be entering the company in the new year. Farfetch’s former Latin America vice president Daniel Funis has reportedly been tapped for the role, according to industry sources for...

Business

Richemont, Farfetch receive EU antitrust green light for YNAP acquisition

Luxury conglomerate Richemont has received approval from the European Commission (EC) to go ahead with its sale of Yoox Net-a-Porter (YNAP) to luxury fashion platform Farfetch. Richemont, the group behind brands including Cartier and Montblanc, announced last year plans to sell a 47.5 percent stake in Italy’s YNAP to the UK’s Farfetch....

Fashion Featured

Five years on: How AI and eco-values have defined 8 by Yoox

Back in 2018, the topic of artificial intelligence (AI) was not a one creative industries such as fashion were entirely familiar with. Yoox, however, was among the few preparing to step into these unchartered waters. It was during this period that the Italian fashion retailer launched its innovative fashion brand 8 by Yoox, which took the...

Fashion |Interview Featured

Mr Porter buying director: Men becoming more open to try new styles, fabrics and shapes

Mr Porter is one of the leading international online retailers when it comes to luxury menswear. The platform, which is part of Italy’s Yoox Net-A-Porter Group (YNAP), of course offers top luxury brands such as Tom Ford and Saint Laurent, but it also carries up-and-coming talents such as Miles Leon and Manaaki. In this interview, Daniel Todd,...